The Mercers’ Company enters into pension scheme buyout

The Mercers’ Company has entered its staff pension scheme into a buyout arrangement with the Pension Insurance Corporation.

The transaction, on which Barnett Waddingham advised, covers around £35 million in liabilities and almost 150 members of the livery organisation’s defined benefit (DB) pension scheme.

Alexander Graham, chairman of The Mercers’ Company pension scheme, said: “The Pensions Insurance Corporation team has been flexible and responsive in helping us insure our members’ benefits, especially as we completed this transaction in the shortened timescale.”